ESAs and ENISA strengthen cybersecurity cooperation
The European Supervisory Authorities (ESAs) recently announced that they have signed a multilateral Memorandum of Understanding (MoU) with the European Union Agency for Cybersecurity (ENISA). This agreement aims to enhance cooperation and information exchange in light of the NIS2 Directive and the Digital Operational Resilience Act (DORA).
The MoU establishes a formal framework for collaboration on policy implementation, incident reporting, and oversight of critical ICT third-party providers. It is designed to promote regulatory convergence, facilitate cross-sectoral learning, and support the exchange of information on emerging technologies. Verena Ross, Chair of the Joint Committee of the ESAs and ESMA Chair, highlighted that this agreement strengthens the joint commitment to safeguarding the financial system from cybersecurity risks, recognising the importance of collaboration in an interconnected world.
Juhan Lepassaar, Executive Director of ENISA, emphasised the comprehensive approach to cybersecurity at both sectorial and horizontal levels, particularly in implementing and harmonising NIS2 and DORA provisions. This collaboration aims to create a robust mechanism for cybersecurity in financial ICT systems.
The NIS2 Directive provides EU-wide legal measures to enhance cybersecurity, while DORA sets a harmonised regulatory framework for digital operational resilience in EU financial entities, including oversight of Critical Third-Party ICT Providers (CTPPs).
The partnership between the ESAs and ENISA is a step towards a unified and resilient approach to cybersecurity, crucial for maintaining the stability and security of the financial system in Europe.
For more details on the MoU and its implications, visit the EBAÂ website.
